United Rentals (NYSE:URI – Get Free Report) released its earnings results on Wednesday. The construction company reported $10.70 earnings per share for the quarter, topping analysts’ consensus estimates of $10.48 by $0.22, Briefing.com reports. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. United Rentals had a return on equity of 36.44% and a net margin of 17.31%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.88 earnings per share. United Rentals updated its FY 2024 guidance to EPS.
United Rentals Stock Up 5.4 %
Shares of United Rentals stock traded up $38.44 on Thursday, hitting $754.26. 1,203,832 shares of the company traded hands, compared to its average volume of 584,033. The company has a 50-day moving average price of $663.50 and a 200 day moving average price of $660.57. The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 1.39. United Rentals has a 12-month low of $387.01 and a 12-month high of $768.62. The company has a market cap of $50.23 billion, a PE ratio of 20.43, a PEG ratio of 2.44 and a beta of 1.71.
United Rentals Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Wednesday, August 14th. United Rentals’s dividend payout ratio is currently 17.66%.
Insider Activity
Analysts Set New Price Targets
URI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on United Rentals in a research report on Friday, June 7th. They issued an “overweight” rating and a $780.00 target price for the company. Truist Financial cut their target price on United Rentals from $796.00 to $785.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Oppenheimer reaffirmed a “market perform” rating on shares of United Rentals in a report on Monday, April 29th. Citigroup began coverage on United Rentals in a report on Wednesday, June 26th. They issued a “buy” rating and a $745.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on United Rentals from $720.00 to $750.00 and gave the company a “buy” rating in a report on Friday, April 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $637.67.
Check Out Our Latest Report on URI
About United Rentals
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.
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